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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index (BDI) kept falling mid-week, ending Wednesday’s session down by 1.47% to 1,411 points, the lowest it’s been since late of 2008, amid the global financial meltdown. As has been the case since the beginning the year, smaller ship types fared better than their large counterparts. Capesizes retreated yet again, this time by 0.88% very close to break-even levels, while panamaxes ended the day down by 3.48%.
According to the latest weekly report from Fearnley’s, the Capesize market is lacking direction and excitement. «Finally we see the floor reached for now in the Far East, with a number of fixtures done around USD 6.65- 6.70 pmt for West Australia to China (against the lowest done last week at USD 6.45 pmt). The front haul seems under pressure, with lack of cargoes and more ballasters, and rates as dropping. The Chinese are preparing for lunar New Year, and remain inactive for the beginning of this year, resulting in limited spot activity” said the shipbroker.
Commenting on the panamax front, the report mentioned that it had a slow start to the week in both hemispheres. “Especially the Pacific market experienced low volumes with much of the Australian cargos being cancelled, caused by the flooding. Several ships were reported to leave the Australian loading areas without cargos, entering the much active ballasting market from the Pacific to the Atlantic basin.
The latter has also experienced a softening in rates for early February cargos with ballast bonuses decreasing rapidly throughout the week. Fronthauls are still being fixed at around 25k and Tarvs at around 17.5k while the Pac rounds are getting around 9k. The period market has been over flooded with takers, but owners still not able/willing to face the levels being proposed” said Fearnley’s.
As for the smaller ship types and particularly the Handysize/Handymax, the shipbroker said that “negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Continued lack of sufficient activity in the Black Sea and Continent. USG seems to be the only positive market. Very little activity with rates having downward pressure across all routes in the Pac.
Supras are doing USD 7-8k for Indonesia-India.
Same levels also seen for Thailand rounds. Iron ore from India bit quiet and vessels seeing around 14-15k from WCI and 10-11k from ECI for trip to East. RBCT coal FOB prices looking firm and not too many Indian buyers buying at those levels as cement plants have enough stocks for some time to hold. For RBCT RVs ships are going at 14k and some even lower depending on position. Handymax fertiliser cargoes from R.Sea to India are seen paying around low 20´s on voyage basis WCI discharge» concluded Fearnley’s.
Meanwhile, yesterday it was announced that Chinese coal imports set a new record in December and totaled 17.34 million tons, an increase of 940,000 tons (6%) from the previous record of 16.4 million tons imported in December 2009. Robust peak season winter thermal coal demand led to the surge in coal imports. In a relative comment, Commodore Research & Consultancy stated that “a few months ago we anticipated that Chinese coal imports would set a new record in December and published a note in early November alerting clients that December coal imports would likely reach 17.25 million tons. December imports exceeded our forecast partially due to Chinese ports being closed sporadically in November due to weather-related issues.
A few cargoes that were meant to be unloaded in November were instead unloaded in December. Going forward, Chinese coal imports are likely to remain at robust levels but are poised to decline until the summer re-stocking period. Chinese thermal coal fixtures have declined in recent weeks. Last week saw only 6 vessels chartered to ship thermal coal to China, a decrease from the trailing four-week average of 9 fixtures. Early December saw as many as 19 vessels chartered to ship thermal coal to China in a single week” said Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
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