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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, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- London Commodity Brokers - England
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Authority, New Zealand
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