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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, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
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