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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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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- The University of Queensland
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
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