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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
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