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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
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