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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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
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