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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Orica Mining Services - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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