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