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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Planning Commission, India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
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