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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
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