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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- The Treasury - Australian Government
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Petron Corporation, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
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