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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
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