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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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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
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