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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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Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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