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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
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