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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
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