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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, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
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