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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- The University of Queensland
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
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