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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
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- ASAPP Information Group - India
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- Electricity Authority, New Zealand
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- Indo Tambangraya Megah - Indonesia
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- CNBM International Corporation - China
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- The Treasury - Australian Government
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- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
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- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Australian Coal Association
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- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
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- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
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- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
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- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
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- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
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