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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% fall on Wednesday. Except Panamaxes which managed to post some gains of 3.18%. Just yesterday, the benchmark Capesize segment lost a whopping 8.14%. According to analysts, this downturn has mainly come as a result of record floods in Australia, which have resulted in a severe disruption of coal shipments, which has further worsened the current flurry of tonnage supply.
Commenting on the Capesize market, Fearnley’s said that “declines were further accelerated by typhoon and flood hitting west, respectively East Coast Australia, with resultant partial paralysis of iron ore and coal exports. Pacific spot activity thus close to negligible, with spot rates dropping, so far, to around usd 13k for index types on rounds. Speculations of necessary alternative geographical sourcing for metallurgical coal into China have so far only resulted in soaring commodity prices, and the Atlantic basis remains uneventful on a combination of low cargo volumes and a flow of ballasters.
The Brazil/China ore run has dipped below usd 20 pmt, equivalent to less than usd 10k net on modern tonnage coming from China. Average daily earnings stand at around usd 16k, down 38% m-o-m. To the extent that operators dare to book period tonnage, index-linked rate structures are much in vogue and recently concluded on 3 known units” said the shipbroker.
"We do see the fundamentals are strong enough to support better rates than the current levels but not too much above the current levels," said Georgi Slavov, head of dry research and structured products at ICAP Shipping in a story from Reuters. "There will be rallies and downward pressure again. It is going to be sideways to downward pressure for the next three to six months" he mentioned. Fearnleys said preliminary estimates for net fleet growth in 2010 reached 16 percent. "This year could be as high as 17 percent," Svenning said.
In its latest report, it commented that – in the panamax market – “after a week of holidays, the Atlantic market started off on a positive trend with a short list of vsls able to load mid January cargoes. How long this will last is more uncertain as ballasters from the Feast will pick a fight for the end January/early Feb cargoes. TA round voyages fixed around usd 21k p/d and fronthauls paid usd 27-28k. In the Pacific a more bearish tone appeared. Prompt deliveries fixed at USD 7-8k for Pac rounds, and Indonesia round were reported at usd 6k p/d. The backhaul market has been more or less silent, even though a LME was paid only usd 3250 via Suez!” the broker said.
Meanwhile, in the smaller handysize segment it’s been a quiet week as expected after the holiday season. “Most actors should be gradually back on the market this week and this will tell us where the market is heading, although negative sentiment is already prevailing across the board due to lack of cargo availability and too many ballasters. Charterers are therefore expected to maintain a ´wait and see´ attitude in order keep the pressure.
Owners are resisting fixing business back to the F.East. Continued lack of sufficient activity in Bl.Sea and Cont. The USG should become firmer as more grain shipments are expected end January. A quiet start after the holidays with numerous prompt vessels in the East. Vessels ex China via Indo to India can expect to receive somewhere around the 9-10k level, with a tick less for Indo rounds. Nopac rounds have been seen to be fixed around the 9k level bss ex China with Charterers currently talking numbers starting with 8´s. Seeing several looking for backhaul or staying in Atl if already there” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
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