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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, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
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