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