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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- PTC India Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
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