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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Minerals Council of Australia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- ASAPP Information Group - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
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