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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
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- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
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- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
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- Eastern Energy - Thailand
- Agrawal Coal Company - India
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- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
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- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
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- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
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- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
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- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
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- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
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- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
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- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
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- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
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- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
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