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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Planning Commission, India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
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