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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, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
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