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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
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- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
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- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
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- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
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- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
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- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Ministry of Finance - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
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- Vedanta Resources Plc - India
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- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
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