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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, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
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- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
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- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
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- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
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- Interocean Group of Companies - India
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- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
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- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
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- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
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