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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Aditya Birla Group - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
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