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