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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
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