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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
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