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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Australian Coal Association
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
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