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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
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