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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
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