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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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