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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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- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
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