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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
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