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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
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