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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- PTC India Limited - India
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