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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Planning Commission, India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
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