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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, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
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