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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
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