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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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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
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- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
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- Australian Commodity Traders Exchange
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- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
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- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
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- Borneo Indobara - Indonesia
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- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
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- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wilmar Investment Holdings
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Minerals Council of Australia
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