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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Sical Logistics Limited - India
- Heidelberg Cement - Germany
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- Ministry of Transport, Egypt
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- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- The University of Queensland
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
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