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