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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
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