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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
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