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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- MS Steel International - UAE
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
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