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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
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