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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
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