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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
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