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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Mintek Dendrill Indonesia
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- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
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- Toyota Tsusho Corporation, Japan
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- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
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- Savvy Resources Ltd - HongKong
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- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
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- Directorate General of MIneral and Coal - Indonesia
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- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
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- Karbindo Abesyapradhi - Indoneisa
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- Eastern Energy - Thailand
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
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- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
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- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
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- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Singapore Mercantile Exchange
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- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- PTC India Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
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