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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- The University of Queensland
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
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