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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, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- The University of Queensland
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