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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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