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