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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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