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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Planning Commission, India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
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