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