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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
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