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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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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Marubeni Corporation - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
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