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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
 The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head towards another “winning” week for the industry’s main benchmark, the Baltic Dry Index (BDI). The index posted yet another rising session yesterday, ending up by 57 points to 2975, looking ready to cross the 3,000 point mark for the first time since June, when the market was experiencing a free fall. Once again the “star” of the day was the capesize segment of the market, with the capesize index rising by 123 point to 4024, while daily average earnings are now over $40,000, against a mere $10,000 less than two months ago.
In its latest weekly report, shipbroker Fearnley’s said that “the Baltic Capesize index has increased from 3516 to 4024 though the past week. The average time charter rates have increased from usd 34488 to 40904 in the same period. We can definitely say that the index has been lagging and is under what is being physically being concluded. The recent rally in the market can be described as re-let driven, and when it became apparent that there were few ballasters towards Brazil, the operators began to react and secure what they could of tonnage. The fact that Vale came in and picked up the very early units has compounded the situation and freight rates in the Atlantic, both for front haul and transatlantic routes, are still firming. On the period front, operators have swept the market and absorbed the available period candidates at premium levels”.
In a separate update on Chinese iron ore demand, Jeffrey Landsberg, analyst with Commodore Research & Consultancy said that “reports have been surfacing of a government push to reduce power allocation to heavy polluting Chinese industries. Steel mills, in particular, have been targeted - with reports suggesting that many mills will be forced to cut production. We’d like to point out that current iron ore demand remains very strong. 19 Chinese iron ore fixtures have already been reported this week - this week's total Chinese iron ore fixtures are very likely to exceed the trailing four week average of 21 fixtures. While it is certainly possible that Chinese steel production may be poised to come under pressure soon, spot Chinese iron ore demand has yet to decline. If anything, Chinese iron ore demand is showing signs of strength this week, which has been responsible for this week's increase in capesize freight rates” said Landsberg.
Meanwhile, Omar Nokta, head of research at Dahlman Rose & Co, said in a note, quoted by Reuters that “with capesize fixtures for October-load expected to commence in the coming days, we expect increased demand and higher freight rates associated with the new (Q4 iron ore) price." In a separate quote from the news agency, Derek Langston, a director with SSY Consultancy and Research mentioned that the market last week and this week to some extent is a reflection of improved sentiment as the fourth quarter approaches. He also said that “we have a situation where steel prices are rising and the prospect very soon of lower contract prices for both iron ore and coking coal."
As for the Panamax market, Fearnley’s said that “a positive trend was seen during this week, with rates climbing steadily. Especially period requirements were a hot topic, and 2 years fixed at 23250 del Far East, for then to be relet at 28250 for 5/7 months. In the Atlantic the TA´s fixed in the 29/30k region, up usd 5000 from last week, same jump were seen for fronthaul, fixing in the usd 35/36k levels. In the Pacific, LME ´s fixing usd 26/27k, up usd 3/4000 from last week. Backhauls were more or less stable at usd 14000”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
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