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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
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