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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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Wednesday, 03 June 09
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Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
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- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
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- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
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- Minerals Council of Australia
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- Indonesian Coal Mining Association
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- Power Finance Corporation Ltd., India
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- Eastern Energy - Thailand
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- Directorate General of MIneral and Coal - Indonesia
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- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
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- McConnell Dowell - Australia
- VISA Power Limited - India
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- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
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- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
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- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
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- Planning Commission, India
- London Commodity Brokers - England
- White Energy Company Limited
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- Mjunction Services Limited - India
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- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
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- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
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- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
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- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
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- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
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- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
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- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
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- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
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- New Zealand Coal & Carbon
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- Indika Energy - Indonesia
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- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Parliament of New Zealand
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- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
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- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
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- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Economic Council, Georgia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
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