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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- The University of Queensland
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
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