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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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Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
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