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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- The University of Queensland
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
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