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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
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