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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
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