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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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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
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