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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- MS Steel International - UAE
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
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