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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
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