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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
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