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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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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Merrill Lynch Commodities Europe
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
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