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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
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