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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Australian Coal Association
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
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