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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Australian Coal Association
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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