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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Planning Commission, India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
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