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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
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