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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
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