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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 $45,000/day.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
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- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- MS Steel International - UAE
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Planning Commission, India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
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