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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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
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