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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, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
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- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
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