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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Sindya Power Generating Company Private Ltd
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- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
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- Australian Coal Association
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- Planning Commission, India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Minerals Council of Australia
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- Jorong Barutama Greston.PT - Indonesia
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- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
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- Barasentosa Lestari - Indonesia
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- Makarim & Taira - Indonesia
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- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
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- Mintek Dendrill Indonesia
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- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
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- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
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- Carbofer General Trading SA - India
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- Ambuja Cements Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
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- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
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- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
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- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
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