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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Planning Commission, India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- White Energy Company Limited
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
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