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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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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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