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