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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Australian Coal Association
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
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