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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, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Bhushan Steel Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
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- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
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- Indian Oil Corporation Limited
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- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
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- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
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- Gujarat Sidhee Cement - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
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