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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
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