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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Planning Commission, India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
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