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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
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