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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
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