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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
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