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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
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