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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- The University of Queensland
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
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