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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
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