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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
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- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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