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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, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
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