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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
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