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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
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