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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- The University of Queensland
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
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