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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, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS
Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollow ...
Wednesday, 18 March 09
INDONESIA'S PLN APPOINTS KPC TO SUPPLY COAL - REUTERS
State electricity firm Perusahaan Listrik Negara (PLN) appointed PT Kaltim Prima Coal to supply 1 million tonnes of coal per annum to Tanjung Jati B ...
Monday, 16 March 09
TATA POWER HAS NO PLAN TO SELL STAKE IN INDONESIA BUMI MINES - BLOOMBERG
Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two I ...
Monday, 16 March 09
ANTAM SELECTS PARTNERS FOR POMALAA POWER PLANT - THE JAKARTA POST
PT Aneka Tambang Tbk, Indonesia’s second-largest nickel producer, said it intended to develop a $300 million coal-fired plant in Pomalaa, Sout ...
Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST
PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...
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- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
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