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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- GMR Energy Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
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