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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- White Energy Company Limited
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
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