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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- White Energy Company Limited
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
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