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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Planning Commission, India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
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