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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
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