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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- White Energy Company Limited
- Planning Commission, India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
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