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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
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