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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, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bhatia International Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
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