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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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