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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
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