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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
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