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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
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