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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
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