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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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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Planning Commission, India
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