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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
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