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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- MS Steel International - UAE
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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