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