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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, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- PTC India Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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