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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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