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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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