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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
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