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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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Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
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- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Commonwealth Bank - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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