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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
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