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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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