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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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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Parliament of New Zealand
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- MS Steel International - UAE
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
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