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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
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