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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- PTC India Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
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