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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- The University of Queensland
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
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