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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Heidelberg Cement - Germany
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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