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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, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
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