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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Planning Commission, India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- VISA Power Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
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