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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
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