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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Economic Council, Georgia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Posco Energy - South Korea
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
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