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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Planning Commission, India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
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