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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, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
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