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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, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Ministry of Finance - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- The University of Queensland
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
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