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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Australian Coal Association
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
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