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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
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