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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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