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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
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