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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
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