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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
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