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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
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