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