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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, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
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