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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, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- The University of Queensland
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
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