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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
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