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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, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
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