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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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Wednesday, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
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