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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Planning Commission, India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
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