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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
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