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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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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Xindia Steels Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
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