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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
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