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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- The University of Queensland
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
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