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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
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