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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- The University of Queensland
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
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