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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
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