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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
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