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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, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
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