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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
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