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