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