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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Economic Council, Georgia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
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