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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- MS Steel International - UAE
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- The University of Queensland
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Planning Commission, India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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