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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, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
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- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
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