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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- VISA Power Limited - India
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- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
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- CNBM International Corporation - China
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- Vedanta Resources Plc - India
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- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
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- Deloitte Consulting - India
- Standard Chartered Bank - UAE
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- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
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- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
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- Ambuja Cements Ltd - India
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- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
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- India Bulls Power Limited - India
- London Commodity Brokers - England
- Australian Coal Association
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- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
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- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
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- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
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- Thai Mozambique Logistica
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- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
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