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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
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