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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
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