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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
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