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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Australian Coal Association
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
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