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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% fall on Wednesday. Except Panamaxes which managed to post some gains of 3.18%. Just yesterday, the benchmark Capesize segment lost a whopping 8.14%. According to analysts, this downturn has mainly come as a result of record floods in Australia, which have resulted in a severe disruption of coal shipments, which has further worsened the current flurry of tonnage supply.
Commenting on the Capesize market, Fearnley’s said that “declines were further accelerated by typhoon and flood hitting west, respectively East Coast Australia, with resultant partial paralysis of iron ore and coal exports. Pacific spot activity thus close to negligible, with spot rates dropping, so far, to around usd 13k for index types on rounds. Speculations of necessary alternative geographical sourcing for metallurgical coal into China have so far only resulted in soaring commodity prices, and the Atlantic basis remains uneventful on a combination of low cargo volumes and a flow of ballasters.
The Brazil/China ore run has dipped below usd 20 pmt, equivalent to less than usd 10k net on modern tonnage coming from China. Average daily earnings stand at around usd 16k, down 38% m-o-m. To the extent that operators dare to book period tonnage, index-linked rate structures are much in vogue and recently concluded on 3 known units” said the shipbroker.
"We do see the fundamentals are strong enough to support better rates than the current levels but not too much above the current levels," said Georgi Slavov, head of dry research and structured products at ICAP Shipping in a story from Reuters. "There will be rallies and downward pressure again. It is going to be sideways to downward pressure for the next three to six months" he mentioned. Fearnleys said preliminary estimates for net fleet growth in 2010 reached 16 percent. "This year could be as high as 17 percent," Svenning said.
In its latest report, it commented that – in the panamax market – “after a week of holidays, the Atlantic market started off on a positive trend with a short list of vsls able to load mid January cargoes. How long this will last is more uncertain as ballasters from the Feast will pick a fight for the end January/early Feb cargoes. TA round voyages fixed around usd 21k p/d and fronthauls paid usd 27-28k. In the Pacific a more bearish tone appeared. Prompt deliveries fixed at USD 7-8k for Pac rounds, and Indonesia round were reported at usd 6k p/d. The backhaul market has been more or less silent, even though a LME was paid only usd 3250 via Suez!” the broker said.
Meanwhile, in the smaller handysize segment it’s been a quiet week as expected after the holiday season. “Most actors should be gradually back on the market this week and this will tell us where the market is heading, although negative sentiment is already prevailing across the board due to lack of cargo availability and too many ballasters. Charterers are therefore expected to maintain a ´wait and see´ attitude in order keep the pressure.
Owners are resisting fixing business back to the F.East. Continued lack of sufficient activity in Bl.Sea and Cont. The USG should become firmer as more grain shipments are expected end January. A quiet start after the holidays with numerous prompt vessels in the East. Vessels ex China via Indo to India can expect to receive somewhere around the 9-10k level, with a tick less for Indo rounds. Nopac rounds have been seen to be fixed around the 9k level bss ex China with Charterers currently talking numbers starting with 8´s. Seeing several looking for backhaul or staying in Atl if already there” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
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