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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, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Central Electricity Authority - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
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