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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- McConnell Dowell - Australia
- Planning Commission, India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
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