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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
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