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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, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
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- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
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- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
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- Renaissance Capital - South Africa
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
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- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
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