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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- White Energy Company Limited
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
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