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Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
 According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time charter average briefly went over the magic US$ 50,000/day mark, and market optimism was carried along by high prices in the FFA market plus strong trading on the Atlantic/Far East coal route. As South Africa entered a second week of strikes, the iron ore market was particularly badly hit with both Kumba (Anglo-American) and Xstrata declaring force majeure.
Suppliers have been able to cover demand with existing stocks but say the impact will be much more severe if the strike continues into a third week. In the steel markets, industry leaders warned prices would have to rise in reaction to the new quarterly ore price agreements, and steel could face new competition from aluminium and plastics. It comes at a time of recovering demand in many western markets. This week Germany reported a more than doubling in steel output to 3.88m tonnes for April compared to the same month last year.
Supramax/Handy
Despite holidays in various parts of the world, sentiment remained firm. Indian demand for Indonesian and Australian coal is still firm, as is nickel ore bound for China. This pushed rates to the high US$ 20,000s for Pacific employment and encouraged owners to ask in excess of US$ 30,000 for short period. That being said, ships open in India are now facing a shortage of ore due to the monsoon and have little alternative but to ballast across to south America where demand on the back of grain and sugar export is still strong. The north Atlantic saw high levels with Supramax asking in the mid US$ 40000s for trip from USG to Continent/ Med and mid US$ 50,000s for trip to the Far East. Handies are still in demand, particularly from the Continent with lots of grain, fertilizers and scrap stems.
Panamax
Overall, the Panamax market was stable in the Pacific and firm in the Atlantic. The TA round voyage closed the week at around US$ 39,000/day, up week-on-week from around US$ 35,000/day thanks to good coal activity out of the USG and grain out of ECSA. On the other side of the ocean the Indian market was quieter this week: WCI-China market is now paying low-mid US$ 30,000s and with the monsoon coming, the market should ease, freeing up some ballasters for the ECSA market. The market for this trade was paying over US$ 35,000 per day for trip to PG/Japan range via ECSA. The period market was active and takers were paying around US$ 32,000/day delivery north China for short period, and US$ 40,000 per day for delivery Atlantic redelivery worldwide.
Capesize
A strong week for the big ships, with the four time charter average breaching US$ 50,000 on Thursday, levels not seen since December 2009. Overall the BCI was up 10% and the 4TC 14%. Gains were partly spurred on by the FFA market, where an estimated 21,000-plus cleared trades were concluded, of which more than 40% were in the Cape market. Trading was heaviest for 2Q and 3Q, helping to push up rates in the physical market, although there was less optimism for later in the year. Rates eased on Friday and Monday although tonnage is still tight in the Atlantic and there is more activity expected from the mining companies this week. Four to six month fixtures were being signed in the low $ 40,000s.
Source: BRS Dry Bulk
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- White Energy Company Limited
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
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