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