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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, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
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