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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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Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- The University of Queensland
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
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