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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- The University of Queensland
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
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