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