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