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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, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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