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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
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