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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
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