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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The University of Queensland
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- MS Steel International - UAE
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