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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
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