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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
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