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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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Monday, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
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- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
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- The Treasury - Australian Government
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- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
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- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Parliament of New Zealand
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- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
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- Eastern Coal Council - USA
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- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
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