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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, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
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