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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Energy Development Corp, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Australian Coal Association
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
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