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