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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, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
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