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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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Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
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- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
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- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Planning Commission, India
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- Wilmar Investment Holdings
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- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
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- White Energy Company Limited
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- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
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- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
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- Wood Mackenzie - Singapore
- The University of Queensland
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- PTC India Limited - India
- Deloitte Consulting - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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- Renaissance Capital - South Africa
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- Australian Coal Association
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- Indian Oil Corporation Limited
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- Leighton Contractors Pty Ltd - Australia
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- Parliament of New Zealand
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- Kapuas Tunggal Persada - Indonesia
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- Siam City Cement - Thailand
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- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
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- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
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- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
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- McConnell Dowell - Australia
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- Intertek Mineral Services - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
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- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
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- Ministry of Mines - Canada
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
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- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
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- Lanco Infratech Ltd - India
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- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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