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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
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- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- The University of Queensland
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