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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
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