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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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Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
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- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
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