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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- The University of Queensland
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- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
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- Australian Coal Association
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- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
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- Trasteel International SA, Italy
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- International Coal Ventures Pvt Ltd - India
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- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
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- Power Finance Corporation Ltd., India
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- SMC Global Power, Philippines
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- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- TeaM Sual Corporation - Philippines
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- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Parliament of New Zealand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Minerals Council of Australia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
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- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
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