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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- PTC India Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Australian Coal Association
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
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