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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- White Energy Company Limited
- Aditya Birla Group - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- The University of Queensland
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
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