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