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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Australian Coal Association
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
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