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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
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