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Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterday to end the session down to 1,309 points, a daily slump of 1.13%. On the positive side, the Capesize market stopped tis fall, to end the session marginally higher at 0.19 percent to 1,573 points. At the same time, the constant fall of the panamax sector finally led rates lower than Capesizes. Since the beginning of the year, Panamaxes had been the top earners of the dry bulk market, in a sector’s paradox that tended to become the norm. Yesterday, the panamax segment lost further ground to end down by 2.40 percent.
In its latest weekly report, Fearnley’s said that the Panamax market continued its downward trend this week. It was some mixed views beginning week when more fresh cargoes entered the market - but this was quickly absorbed by the overwhelming supply of available ships. “The rates in both hemispheres are slowly declining and we do not see any fundamental upcoming events in the near future which will have any positive effect to the rates. Next week is Easter Holidays in most European countries and we believe this also will affect the already slow market. For Continent positions doing Fhauls the rates are in the low 20´s region. Tarv´s paying low teens while in the Pacific the rounds are fetching very low 10´s. The period market has been somewhat none existing lately with only a few fixtures reported at around 15k lvl for short/medium periods” it mentioned.
As for the Capesize market, it said that the segment is heading for another low, as newbuildings continue to pour out of yards. “Spot demand is fair, despite recent natural disasters, but simply not sufficient to fully employ a growing fleet. Pacific rounds, although not covering operating expenses, are stable at just over usd 6k/day – the reference trade WAust/China hovering in the dismal usd 7.50-75 pmt interval. Atlantic has taken a further blow, with levels for the Cont-Brazil-China fronthaul trade dropping 10% w-o-w to come in at usd 20k/day, TA rates softening by a full 35% to usd 6250/day. A few key players still book period tonnage, at levels reflecting the presently inverted forward curve more than the current spot bloodbath 180kdwt newbuilding done ex yard prompt for 11-13 months at usd 15k/day, 180kdwt/built 2010 fixed prompt for 4-6 months at usd 12500” said the shipbroker.
Regarding the smaller ship types, “the Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pays very low 20´s for petcoke runs into the EMed/EMed. Short period dely in Atl on Supramax 53kdwt stands at usd 18500 with worldwide redelivery. TA rounds are being traded in the high teens. Pacific market very quiet as Chrtrs holding back their requirements and allowing tonnage to build up. Supras in N.China get close to 12k for trips via Indo to India. Iron ore from India expected to pick up with increased cargoes and buying interest from China thereby rates remain firm around 17k WCI/China and from ECI around 15k, but few ships seen ballasting to Indo as not much cargoes ex ECI. On Rich.Bay rounds Supras see around 15k basis WCI dely. Red Sea; ferts on Hmax/Supras are fixed at very mid-high 20´s pmt on voy bss to WCI. Not too much activity on short period as market bit volatile and speculative and hear index type vsl fixed at mid-teens” concluded the report.
Meanwhile, it’s worth mentioning the latest developments regarding India’s iron ore export plans. As it turns out, the Karnataka state government is challenging the Supreme Court's decision to lift the iron ore export ban. In a note, Jeffrey Landsberg from Commodore Research & Analysis, said that, Karnataka's Chief Minister B S Yeddyurappa held on a conference stating that Karnataka will file an appeal with the Supreme Court. “According to Mr. Yeddyurappa, illegal mining and transportation of iron ore is still running rampant throughout the state and in all of India. His statement's echo similar findings from the Central Empowered Committee and Lokayukta that Commodore has published in recent reports. We will continue to monitor this development closely and will publish additional updates when more information surfaces. For now, the export ban remains set to be officially lifted on April 20. A significant increase in Indian iron ore fixtures has not yet occurred however. Only 4 Indian iron ore fixtures surfaced in the market last week, 1 less than the previous week and on par with the trailing four week average” said Landsberg.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Minerals Council of Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
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