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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, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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