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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
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