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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, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
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