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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Rio Tinto Coal - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
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