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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- VISA Power Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
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