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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- PTC India Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
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