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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Australian Coal Association
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
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