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