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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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- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Wilmar Investment Holdings
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Planning Commission, India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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