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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
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