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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Economic Council, Georgia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
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