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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
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