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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
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