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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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Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
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