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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Posco Energy - South Korea
- VISA Power Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
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