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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, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
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- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- VISA Power Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
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