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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
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