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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
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