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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
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