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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- The University of Queensland
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
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