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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
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