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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
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