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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
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