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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
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