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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 $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Bhatia International Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
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