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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
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