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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
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