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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- PTC India Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
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