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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$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- White Energy Company Limited
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
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