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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
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