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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
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