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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, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
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