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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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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Aditya Birla Group - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
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