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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- White Energy Company Limited
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- PTC India Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
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