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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
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