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