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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, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Minerals Council of Australia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- VISA Power Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
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