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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
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