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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Australian Coal Association
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
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