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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
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