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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PTC India Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
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