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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- ASAPP Information Group - India
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