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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
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