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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
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