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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
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