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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
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