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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- The University of Queensland
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
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