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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, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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