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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
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