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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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- Heidelberg Cement - Germany
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- Marubeni Corporation - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
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