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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Planning Commission, India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- White Energy Company Limited
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
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