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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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Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
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- Jaiprakash Power Ventures ltd
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- Singapore Mercantile Exchange
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- VISA Power Limited - India
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- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
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- Indian Oil Corporation Limited
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- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Australian Coal Association
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
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