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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, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Indogreen Group - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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