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