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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
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