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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
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- Metalloyd Limited - United Kingdom
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- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
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- Coalindo Energy - Indonesia
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- Trasteel International SA, Italy
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
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- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
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- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
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- Africa Commodities Group - South Africa
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- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
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- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
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- Bukit Makmur.PT - Indonesia
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- Bharathi Cement Corporation - India
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- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
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- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
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- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
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- Ministry of Mines - Canada
- Romanian Commodities Exchange
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- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
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- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
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