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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
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