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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- London Commodity Brokers - England
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