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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
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