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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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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Economic Council, Georgia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
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