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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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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Australian Coal Association
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
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