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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Planning Commission, India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
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