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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
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