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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
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