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