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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
 There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets saw large spikes driven by activity in the Atlantic and a tight tonnage situation saw charterers offering high rates in order to pull ships over from the east. The Panamax market remains strong and the BPI continues to outpace the BCI. The big news of the week was in the coal market where BHP Billiton announced a new, shorter term pricing structure for a “significant portion” of its hard coking coal volumes for 2010. This will replace the benchmark pricing system, and takes advantage of current high spot rates. BHP said it had reached an agreement with a range of customers throughout Europe, China, India and Japan. According to reports, it has already struck a deal with Japan’s JFE Steel for the three months starting 1 April at US$200 per tonne. This represents a 10% discount on the current spot rate, but a 55% premium on last year’s benchmark price.
Supra/Handy
In the Atlantic, the week started with a firm Handysize market due to the lack of tonnage in the USG area and a surge in grain and sugar cargoes out of ECSA. The ECSA/Cont route rose almost US$2,000/day to close at around US$27,000/day and USG/ Cont firmed up to the low-mid US$30,000s for Cont destination. We even saw some ballasters coming from the west Med, getting close to US$19,000 for ECSA round voyage. In the Supramax market, conditions slowly but surely firmed in the middle of the week due to busy conditions in both the ECSA and USG. Supramax were getting fixed close to US$40,000/day for USG/Cont trip and about US$25,000/day for WAF/Cont-Med trip via ECSA. This activity pushed operators to take some Supramax tonnage for short period at low-mid US$30,000s for 3/5 mos redelivery worldwide. In the Pacific, the market improved steadily in the early part of the week with the Indian market as the main catalyst. However this trend was short-lived. We saw a spike in period enquiries with several vessels fixed on subjects in the upper US$20,000s for short period and low US$20,000s for 1-yr period, though we understand most did not manage to lift subjects. In the Nopac area, owners were asking mid US$20,000s for trip but few charterers were willing to pay.
WCI Supra were fixed in the low US$40,000s and ECI candidates were negotiated in the upper US$30,000s. A Handymax open ECI was also reported fixed at around a healthy US$28,000 for a RBCT round voyage.
Panamax
A busy week of fixing in the Panamax market ensued as rates rose sharply for a second consecutive week. The BPI witnessed a rise of 604 points and US$4,873 on the 4 time charter average as the market firmed across the board. Rates in the east jumped up dramatically with rates hovering now in the low US$30,000s, helped by a large appetite for short period of up to 1 year. There were a host of fixtures concluded, and short period rates are now in the low US$30,000s while 1-year rates are in the upper US$20,000s. Tonnage remained tight still in the Atlantic, pushing rates up further and here we saw charterers picking off open tonnage in the Far East for USG and ECSA round voyages, adding even more momentum to the Pacific market.
Capesize
A busy week saw Capesize rates leap upwards again and by Friday the four time charter average was back hovering below the magic level of US$40,000 a day. A very tight Atlantic market saw some charterers struggling to find tonnage and rates had to rise sufficiently to attract ships from further afield. Overall the BCI rose 24% to 3,900 points, while the 4TC rose from US$28,370 to US$37,800/day. In the event, rates appeared to peak on Friday and Monday saw levels fall back. However with demand still strong for early tonnage in the Atlantic, and FFA prices at around US$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
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- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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