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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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
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