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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- White Energy Company Limited
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Deloitte Consulting - India
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