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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
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