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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
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