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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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