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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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