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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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Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
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