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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
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