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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- The University of Queensland
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
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