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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
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