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