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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
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