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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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