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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
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