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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
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