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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
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