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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
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