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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- The University of Queensland
- Planning Commission, India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
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