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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
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- Marubeni Corporation - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
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- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
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- Chamber of Mines of South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
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- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
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- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
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- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
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- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
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- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- New Zealand Coal & Carbon
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
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- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- MS Steel International - UAE
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
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