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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- The University of Queensland
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- SMG Consultants - Indonesia
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