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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
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