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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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