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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
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