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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Central Electricity Authority - India
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