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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, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
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