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