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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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
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