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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- India Bulls Power Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
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