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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Australian Coal Association
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
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