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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
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