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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Australian Coal Association
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
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