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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
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