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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
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