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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- White Energy Company Limited
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
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