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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Indonesian Coal Mining Association
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