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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
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