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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
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