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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
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