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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
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