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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$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- The University of Queensland
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
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