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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
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