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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$37,700 for second-quarter trading, it seems the market is quite tightly balanced.
Source: BRS
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
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