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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Planning Commission, India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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