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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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