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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
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