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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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