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