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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Central Electricity Authority - India
- The University of Queensland
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
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