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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Minerals Council of Australia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
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