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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
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