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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- The University of Queensland
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Planning Commission, India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
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