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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
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