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