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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
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