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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- PTC India Limited - India
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