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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
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