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