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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
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