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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
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