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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
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