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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
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