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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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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- PTC India Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
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