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Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
 The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified during Wednesday as well, with the relative Baltic Capesize Index (BCI) gaining ground for a second session in a row. Still, it is well behind the panamax market, in yet another “paradox” of the current market behavior. The BDI (Baltic Dry Index) ended yesterday’s session at 2,966 points up by 38 on a daily basis.
According to Fearnley’s latest week report “the capesize market has had a depressing week with rates falling across the board. Little or no period interest has been seen. Iron ore pricing agreements, combined with low freight rates have spurred some new selling, or at least putting ore on the water from Brazil, and we have seen Vale conclude a few vessels at low $23 (even $22 for overaged tonnage). The focus is on early ballasters, and as such little has emerged in terms of real direction for May, though the sentiment, backed by the paper market, is for an improvement in the rates. The Atlantic market still remains quiet and owners accepting lower than Pacific levels for the first time in a long time. Looking forward we are cautiously optimistic that there will be a small improvement in the near future” said the broker.
As for the panamax market, the report stated that “it experienced a sit back and watch scenario from both owners and charterers end last week and into the start of this week. There was no clear sign on where the market was going although the underlying sentiment was firm. Several grain cargoes from ECSA and coal from USEC entered the market this week and the tonnage supply is tight for prompt dates. Ballasters from the F.East fixed in region of $32,000 daily for ECSA/F.East cargoes on May dates. Pacific R/Vs are fixing in the upper 20´s. Tarv´s was fixing low 30´s and fronthauls mid 40´s. The firming spot market is also giving support to the period market. Rumors have it a 73k dwt was fixed on subs for 2 years trading at $24,000 daily with delivery PMO” concluded Fearnley’s.
Meanwhile, analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased.
Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Commenting on the recent change of iron ore pricing system on a quarterly basis, analysts like Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices.
"With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said. He expects rates for capesize vessels to increase by 18% this year at $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
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