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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
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