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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- PTC India Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Australian Coal Association
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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