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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Central Java Power - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
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