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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- White Energy Company Limited
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
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