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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Australian Coal Association
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
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