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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Independent Power Producers Association of India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
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