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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Marubeni Corporation - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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