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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- PTC India Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
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