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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Planning Commission, India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Parliament of New Zealand
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
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