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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- PTC India Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
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