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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- VISA Power Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
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