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