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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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Thursday, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Power Finance Corporation Ltd., India
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