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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, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Australian Coal Association
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
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