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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
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