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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
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