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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
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