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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
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