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Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
 The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (BDI) from late 2008 and until today. Yesterday, the industry’s index was almost stagnant, falling by a marginal 10 points at 2,981, with the panamax and supramax sectors posting small gains, while the larger capesize vessels losing some ground.
The latest weekly report from Paris-based shipbrokers Barry Rogliano Salles (BRS) said that rates came under pressure last week, with all segments posting declines except the capsizes. “Overall the BDI logged a 3% drop, despite a 5% increase in Cape rates” said the broker.
Of course, the past week’s news were all about the outcome of the iron ore negotiations, where both participating sides turning up the heat. “China’s Iron and Steel Association called on its members to impose a two-month boycott of the three major miners in protest at steep price rises. CISA said stockpiles were sufficient to keep the mills supplied for this time, although opinion was divided whether CISA’s 120 members, accounting for 90% of China’s steel output, could be persuaded to comply. Members may fear a repeat of last year, when they refused prices agreed by the Japanese only to see spot levels continue to climb.
Meanwhile Vale stated it had signed new quarterly contract deals with the vast majority of its clients, equivalent to 90% of sales volumes under contract. It is not clear how many Chinese buyers are included in this total, however. More than three-quarters of Vale’s sales to China were made on a spot basis in 2009. However the Brazilian miner did say it expected to sell 45% of its volumes to China on the spot market in the current year” said BRS.
On the capesize front, it was a stronger week, although for the most part gains were only evident on the Tubarao - China, and Richards Bay - China routes where rates jumped between 7%-13% between Monday and Thursday. Rates hardly moved in the Atlantic, where there was little fixing. Sentiment still seems relatively positive for the short term, with both period charters and forward rates above spot prices. Third quarter FFA rates are currently trading at US$32,570/day. Overall the four time charter finished at US$30,641/day on April 1 ahead of the Easter holiday. However at the resumption of business on Tuesday it fell back to US$29,919, while the BCI fell 52 points to 3,377 points.
Meanwhile, on the Panamax front and particularly in the Pacific, cargo enquiry, especially for Indonesian coal, returned again, after an almost two-week break. “Time charter levels are now above $28,000 per day for a modern Panamax delivery. At the same time, we have also seen many vessels open for prompt dates, especially older vessels without RightShip approval. Some iron ore traders are still active, especially on WCI and PG: older Panamaxes open WCI were fixing at US$28,000/day back to China for dates at the end of April, and at least US$37,000 daily for a modern Panamax open PG prompt. Some vessels open Singapore or south east Asia are still opting for ECSA grain, with modern Panamaxes pushing for over US$33,000 per day and older vessels for mid/high US$20,000s” said BRS.
As for the smaller supramax/handy vessel types, rates were declining across the board last week, with the supramax time charter average ending the week at $25,188, compared to $28,829 in the previous week. As for the handy market it stood at $19,781 versus $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- CNBM International Corporation - China
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
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