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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, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
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