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Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
 Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the latter’s surge in mid March. Rates may be held up by the continued congestion in Australia. While BHP Billiton Mitsubishi announced this week the re-opening of a berth at its cyclone-damaged Hay Point coal terminal, it will be three to six weeks before full operations return and there are still more than 90 Panamaxes tied up in Australian ports. In the iron ore market, China announced an increase in monthly imports of 59m tons, up from 49m in February. With the price of ore still climbing, the momentum in the contract talks continues to work in the miners’ favour.
Macquarie Bank reported BHP had clinched a 100% increase in prices, settling at US$120.08 per tonne for Pilbara fines for the MarchJune period, and US$135 per ton for lump. Rio Tinto, formerly a defender of the yearly contract structure, also confirmed it was negotiating quarterly contracts.
Supra/Handy
The BSI rose 55 points to finish at 2,490 points last week, while the 6TC gained about US$600 to finish at US$ 26,040/day. The market was active in the Atlantic, and tonnage was particularly scarce in the Continent with scrap and fertilizer cargoes coming out regularly. The trend was less prominent in the Med/Black Sea although vessels willing to go east via Suez still obtained healthy rates out of the Black Sea (close to mid US$40,000s for a Supra). Grain and sugar is still pushing hard in ECSA. The market was short of Supramax vessels for prompt dates and a trip to the Continent was worth close to US$30,000 while trip out was fixed around US$35,000 per day for delivery WAF region. We also saw some activity with coal/Petcoke stems ex USG/NCSA.
In the Far East, Indian ore to China softened, but rates remained at levels in the low US$30,000s. On the smaller sizes, the Baltic Handysize index went up by 6 points to finish at 1355 points with the time charter routes gaining US$104 to reach US$19,733 daily. The Atlantic is much firmer than the Pacific and the TARV is worth US$22,000/day today, whereas the Pacific round voyage is worth US$17,000 daily. On the period front, we saw interest in both middle period (2/3 years) and short period. Recently built Tess 52 were getting fixed for 3/5 months trading delivery Far East at US$24,000 daily with worldwide redelivery.
Panamax
The Panamax market continued to strengthen on the week in both basins. A little bit more coal activity was evident in the Baltic, along with a steady flow of South American grain which pushed rates up further, and the transatlantic round voyage rate nudged up around US$2,000 on the week to reach close to US$33,000 towards the end part of the week. With still heavy congestion in East Australia, the Pacific recorded the largest gains with Pacific round voyages gaining near on US$3,000 on the week to reach US$31,500 by Friday. In the period market, a 3 year deal was concluded by a grain house for June worldwide delivery on a standard BPI type at US$20,000, while short period in the east hovered around the very high US$20,000s/US$30,000. Overall the BPI witnessed a gain of 244 points and the average of the four time charters rose US$1,963 on the week.
Capesize
More weakness in Cape markets this week with the BCI losing 13% to slip below 3,000 points. The four time charter average closed the week at US$25,115, the lowest level since last September and lower than both the Panamax and Supramax charter averages. TubaraoQingdao saw the biggest declines, although the West Australia-China trade held up rather better. While China’s ore imports remain strong, reaching 59m tons in March, congestion in the country’s ports has fallen significantly. The BCI fell 43 points on Monday.
Source: BRS Dry Bulk
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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
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