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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Planning Commission, India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
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