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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Australian Coal Association
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
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