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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, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
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