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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
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