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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- New Zealand Coal & Carbon
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- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
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- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
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- Sical Logistics Limited - India
- Wilmar Investment Holdings
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- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
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