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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
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