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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Trasteel International SA, Italy
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
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