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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Planning Commission, India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
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