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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Trasteel International SA, Italy
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