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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
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