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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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- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
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