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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
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