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