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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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Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
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