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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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- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
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