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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, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- MS Steel International - UAE
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
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