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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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