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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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Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
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- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
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