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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Australian Coal Association
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
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