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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
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