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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
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