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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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Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
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- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
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