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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Mjunction Services Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
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