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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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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
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