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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- White Energy Company Limited
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
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