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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
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