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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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