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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
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