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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
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