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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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Tuesday, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Planning Commission, India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
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