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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- PTC India Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- White Energy Company Limited
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
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