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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
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