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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
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