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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
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