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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
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