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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Minerals Council of Australia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
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