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Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the larger ship types. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,430 points, down by 2.19% on the day, with Capesizes leading the fall. The Capesize Index retreated by another 3.13 percent to just 1,674 points and as a result daily rates are again closely flirting with break-even levels. The Panamax segment also lost further ground ending the session down by 2.77% to 1,788 points, still well above the larger Capesize ships, in a market’s paradox that lately has proven to be the norm.
According to ICAP Shipping’s first quarter review of the dry bulk market, on the demand side most notable was the massive change in China’s imports of iron ore between January and February which collapsed from 68 Mt to 48 Mt and when this was combined with the 10 Mt fall in the country’s coal imports also in February the resulting 30 Mt drop exceeds anything that was seen even at the time of the freight market collapse in 2009. “Despite this string of exceptional events the freight market has responded calmly and efficiently and will no doubt continue to do so throughout the next three months” ICAP Shipping said.
Indeed, the BDI has lost over 10 percent from the start of the year, which could have been worse, given the circumstances, like the ever so increasing ship supply and the natural disasters in Australia and more recently in Japan. "At the moment the volumes out of Australia and Brazil are disappointing," said Georgi Slavov, head of dry research and structured products at ICAP Shipping, in a quote from Reuters. He went on to say that the volumes of exported (Australian) coal are still 30 to 40 percent below where they should be at this time of year. As a result, the coal price is obviously going up and therefore the Chinese are not buying -- it's a chain reaction that is hitting the market, Slavov mentioned. According to him, Japanese coal imports won’t pick up until May.
In a separate weekly report released from Fearnley’s, it said that in the Capesize market, it’s been a quiet start to the week with holidays in India and China, resulting in a wait and see attitude among owners and charters. West Australia/China rates were in the high 7s, presently usd 7.50 pmt. Of period fixtures in the east, a couple were done at usd 16k levels for 11-13 months, with profit sharing. The fronthaul activity remains inactive.
Regarding the Panamax segment, “activity remained slow in the Atlantic basin, rates still sliding downwards with limited new business and more open tonnage around. Limited trade for the Pacific, mostly due to Chinese holidays Monday and Tuesday. T/A rounds dropped to 14-14.5k this week. In the Pacific, very little reported, though some rounds done at around 14.5 level as well. Fronthaul still fairly healthy at 25k level. With grain season coming to an end, expectations for next month are rather weak. Although forward market flat to slowly down, perhaps more activity for iore export from India after release of export ban and from Brazil in 3Q will stabilize the market. Period market hardly viable this week; 2 years done at 15500 and short period even less” said the shipbroker.
As for the smaller ship types, it argued about slowly softening rates as more tonnage is accumulating in the Atlantic basin .”The trans-Atlantic round is around $15k pd with trips to the Far East at around $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- ICICI Bank Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- VISA Power Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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