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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Australian Coal Association
- Aditya Birla Group - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
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