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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, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Planning Commission, India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
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