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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
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