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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- The University of Queensland
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- PTC India Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
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