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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
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