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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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Thursday, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
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