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