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