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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
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