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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Planning Commission, India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
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