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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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