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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- The University of Queensland
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
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