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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
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