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