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