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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
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