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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- The University of Queensland
- White Energy Company Limited
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
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