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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 points, down by 0.97 percent. The main losing segment was the Panamax one with falls of 2.28 percent, while the Capesize market was on the upside, gaining 0.68 percent. As it turns out, for the time being, the disaster in Japan and especially the danger of radiation has hit trade activity, limiting cargoes to and from Japan. The country is a strong importer of dry bulk commodities, such as coal and iron ore.
In a weekly report, shipbroker Fearnley’s said that activity in the Capesize sector is up, but the same has yet to be reflected in rate levels as this segment remains generally overtonnaged. “The main WAust/China ore trade is erratic in volume but stable in value at usd 7.35-45 pmt - equivalent to less than opex. Nuclear concerns have given some support to Atlantic coal activity/expectations, with resultant transatlantic levels maintained at some usd 12250 and fronthaul also unchanged at around usd 23350. With an inverted forward curve, period activity is limited to 180kdwt/blt 2009 spot Feast done for 12 mos at usd 16k, 177kdwt/blt 2004 China ppt done for 4-6 mos at usd 15500 and 174kdwt/blt 2007 said to be done for 2 yrs at around usd 17500” said Fearnley’s.
Regarding the falling Panamax market, it mentioned that “with few fresh cargoes entering the market, the rates declined marginally this week. TA´s fixed in average around USD 16k, which is a tick down from last week. South America and coal from US kept the market going. In the Pacific the rates hovered around USD 16500. However rumors stated that Japan would increase their coal import, due to lack of nuclear energy. The ballasters from the Pacific and Indian Ocean obtained decent numbers, around USD 16-17k daily, which was in line with the short period market” said the report.
As for the smaller handy segment, “the Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm paying in the mid 20´s for trips into the Med and low/mid 30´s for trips FE. Outlook: stable. The Pacific market is still weak; the signs of weakening are lack of fresh enquiries and less trading activities. Indian activities are also very slow. Supras on WC India are seeing high teens for trip to China with freight levels hovering between usd 20 pmt. Supras ex Richards bay coal terminal/India hovering at usd 25/27.00 pmt. Ex Red Sea to India handymax tonnages are seeing mid/high 20´s” concluded the shipbroker.
While things look a bit dim at the moment, there’s hope that Japan’s massive reconstruction process will boost prospects of the dry bulk freight market in the medium and long term. Japan may increase imports of Australian iron ore and of logs and lumber from New Zealand and Malaysia after the March 11 tsunami devastated buildings in the Tohoku region. Following the Kobe quake in 1995, the Baltic Dry Index, the benchmark for commodity-shipping rates, surged 20 percent in three months after initially falling 6 percent in three weeks said Bloomberg in a report. At the same time, dry bulk rates could get a modest boost as Japanese power plants restock coal inventories and steel companies import more iron ore to rebuild damaged output, analysts said.
For the time being though, fears of an ever increasing oversupplied market seem to be materializing, with rates still depressed. Just this week, China COSCO Holdings Co Ltd., the country’s top shipping conglomerate, said it saw huge challenges in the dry bulk market and urged companies "not to be quick to order new ships". Nevertheless, it added that rates could rise later this year.
Source: Nikos Roussanoglou, Hellenic Shippping
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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
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