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