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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Africa Commodities Group - South Africa
- The University of Queensland
- Georgia Ports Authority, United States
- Planning Commission, India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
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