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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Planning Commission, India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
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