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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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