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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Bangladesh Power Developement Board
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
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