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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
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