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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, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- The University of Queensland
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
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