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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
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