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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
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