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