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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
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