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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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Showing 5611 to 5615 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
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