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