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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, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
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