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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, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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