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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- VISA Power Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
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