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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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Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
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