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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
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