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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- The University of Queensland
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
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