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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
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