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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, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
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- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
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