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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
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- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
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- Parliament of New Zealand
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- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
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- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
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- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
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