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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- The University of Queensland
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
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