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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Australian Coal Association
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
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