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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Deloitte Consulting - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Xindia Steels Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
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