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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
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