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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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