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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- The University of Queensland
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bhatia International Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
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