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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, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
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- Posco Energy - South Korea
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
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