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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
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