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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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