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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, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
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