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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
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