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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, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
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- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
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