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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Australian Coal Association
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
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