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