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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
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