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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- PTC India Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
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