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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
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