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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
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