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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, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
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- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Central Java Power - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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