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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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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
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