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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
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