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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
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