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