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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
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