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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
 The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buoyant with the industry’s main benchmark, the Baltic Dry Index (BDI) rising by a more than impressive 4.14 percent, or 84 points, to 2,114 points, mainly as a result of renewed capesize cargo demand. The relative Baltic Capesize Index (BCI) jumped by 13.26 percent, with average daily earnings now standing at $21,298 a day, up from this year’s lows of under $10,000 a day, noted a few weeks ago. As a result, the capesize segment has once again returned to normal, standing above the panamax market. According to Jeffrey Landsberg, senior analyst with Commodore Research & Consultancy, spot Indian iron ore with a 63.5% iron content is now selling for approximately $135/ton FOB, an increase of $9 (7%) from just a few days ago. The rapid increase in price reflects the impact of the Kamataka iron ore ban, as well as moderate demand from China. In addition, four fixtures were reported Monday to load cargo from the US Gulf, a large amount for a single day of chartering activity. Two of the fixtures were specifically designated to export wheat to Europe. Going forward, European wheat importers are likely to purchase more wheat from the United States in order to compensate for the Russian wheat export ban which will begin on August 15”, Landsberg said.
In a separate analysis, the latest weekly report from Barry Rogliano Salles (BRS), said that capesize rates posted another double digit increase this wek. “West Australia to China rose above US$7.50, while Brazil-China was being done at index levels. In the paper market, 4Q 2010 put on around US$800 Friday to Friday to reach US$29,000/day. Overall owners were more upbeat at the end of the week and a 290 point jump in the BCI on Monday confirmed the new more positive outlook. With the time charter average finishing the week at US$18,400, Cape earnings are finally back above the Supramaxes, though not yet above the Panamaxes” the broker said.
Meanwhile, Commodore’s report mentioned that dry bulk cargo demand increased moderately last week, with ore fixtures witnessing a significant increase. A larger amount of capesize vessels were chartered to haul iron ore from Australia and Brazil partially due to the ongoing export ban in Kamataka India. 23 iron ore fixtures were reported, an increase from only 13 iron ore fixtures reported during the previous week. 17 of last week’s iron ore fixtures were for capesize vessels, an increase from 10 capesize ore fixtures reported during the previous week. The overall amount of iron ore fixtures increased dramatically, however, and with spot ore prices continuing to rise and Chinese iron ore port stockpiles down from a week ago, Chinese iron ore demand appears firm. Stockpiles of iron ore at Chinese ports are still at near record levels, though, and Chinese steel prices have not increased by a large enough amount yet to warrant great optimism.
Asian thermal coal demand remains strong but has cooled from more robust levels of demand seen earlier this summer. Grain demand remains firm but fixtures loading grain from South America have declined noticeably from a week ago. Russian wheat exports will likely be banned in the upcoming weeks. American wheat exports from the US Gulf already appear to be on the rise. Market sentiment remains relatively firm evident by the moderate amount of period deals continuing to be conducted in the market. Most of the period deals have been completed for periods between three to six months” Commodore said.
Commenting, on the state of the iron ore market after Kamataka’s ban, it said that Chinese iron ore buyers have already started to purchase a larger amount of Brazilian and Australian iron ore which is lending support to capesize freight rates. Indian iron ore is normally exported with panamax and supramax vessels (due to draft limitations that restrict capesize vessels from loading at many Indian ports). A prolonged export ban will likely reduce the amount of panamax and supramax vessels that are chartered to haul ore from India, and will likely lead to an increase in Capes chartered to haul ore from Australia and Brazil. If more ore is exported from Brazil, which is likely if the ban remains intact, capesize freight rates would receive additional support due to the longhaul nature of Brazil-China seaborne trade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Australian Coal Association
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
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