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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
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