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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, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Australian Coal Association
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
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