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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
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Central Java Power - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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