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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Aditya Birla Group - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
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