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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
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