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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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
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