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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
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