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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, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Australian Coal Association
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
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