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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Indika Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
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