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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
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