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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
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