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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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Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
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