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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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
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