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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- White Energy Company Limited
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
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