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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- The University of Queensland
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
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