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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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Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- The University of Queensland
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
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