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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
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