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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Planning Commission, India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- MS Steel International - UAE
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
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