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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
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