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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Trasteel International SA, Italy
- The University of Queensland
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
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