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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
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