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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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- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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