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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, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
Thursday, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
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- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
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