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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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Showing 5911 to 5915 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Australian Coal Association
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
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