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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
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