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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Australian Coal Association
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Planning Commission, India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
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