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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- White Energy Company Limited
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
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