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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- White Energy Company Limited
- VISA Power Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
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