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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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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Australian Coal Association
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
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