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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
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