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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- MS Steel International - UAE
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
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