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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Australian Coal Association
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
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