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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, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- New Zealand Coal & Carbon
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
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