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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$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
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