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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, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
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