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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
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