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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Posco Energy - South Korea
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- The University of Queensland
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
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