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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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Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- PTC India Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
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