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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Planning Commission, India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- The University of Queensland
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
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