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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- MS Steel International - UAE
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
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