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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- PTC India Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
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