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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Economic Council, Georgia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
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