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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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- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
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