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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$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- Economic Council, Georgia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
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