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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, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
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