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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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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- The Treasury - Australian Government
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
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