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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
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