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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
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