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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
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